6 Reasons Financial Translation is Imperative for your Business

by Shafqat M. Content Marketing Head

With the internet’s proliferation on a massive scale, borders and cultures no longer hinder the business’s expansion plans. Just about anywhere a business can move and access a pool of potential customers. Locate Translate can translate and localise websites, products, apps, and customer service. Empowering businesses, therefore, to better connect and engage with their customer base in an international marketplace.

More specifically what businesses need when planning overseas expansion is a financial translation service, which translation agencies like UK’s Locate Translate provide at competitive prices with high quality and accuracy. It’s necessary because translation helps your audience perfectly understand your message. At the same time, adapt your message to the local culture and its linguistic diversity so that they can relate to it.

When it comes to the financial industry importance of translation skyrockets. Of course, you’re heavily reliant on numbers but relationship building and legal compliance can’t be overlooked either. You’re expected to convey your business’s message effectively; you’re also expected to have fully understood what compliance with legal matters in a foreign country entails. 

  • Since you’re not speaking the language your target audience speaks, how do you convey your message? 

  • Since all your legal contracts are in a language you don’t understand, how do you understand any of them?

These questions beg answers, which lie in financial translation services. However, before hiring financial translators see to it they’ve domain expertise in the financial sector. Financial translation isn’t just a matter of word-for-word translation, there’s much complexity involved in terms of terminology, etc. At Locate Translate, we hand over projects to expert linguists who’re financial experts to ensure accurate financial translations.

Reasons for using financial translations abound, too many to be included in a single article. However, we will concentrate on the top 6 reasons, which make financial translation imperative for businesses.

6 Reasons your Business Needs Financial Translations

1. Accuracy

On the face of it, financial translation involves translating materials from a source language into a target language. The translation is done in a way to makes your copy easy to understand in the target language. However, financial documents demand more than just literal translations. It’s accuracy and eye for detail. After all, what you’re concerned with are documents of importance, such as contracts, transactions, and more. Just as we’ve it today, Google Translate won’t ensure the kind of accuracy financial translation demands.

Hiring instead a human translation agency, such as Locate Translate, which offers certified translations makes sense. Its translations carry more weight than machine translations simply because they are carried out by professional financial translators equipped with knowledge and experience.

2. Confidentiality

Working with a translation agency means your privacy and confidentiality are protected. After all, all your documents carry vital financial information, and any leak would destroy your reputation. Financial translators at Locate Translate are bound by Non-Disclosure Agreement and Data Protection Act 2018. As the ISO 9001 Certified translation agency, we’re GDPR Complaint, ensuring strict confidentiality. So, make it a point to hire a reliable and trustworthy agency or translators for financial translation services.

3. Consistency

People can rely on your business only if you’ve consistency regarding your brand image across channels. Financial translations when carried by a professional agency ensure exactly that. Besides translating contracts and currencies into local languages, it will maintain a consistent brand voice for your business. Just briefing your translation agency to maintain a constant style across languages will yield great results in terms of trust-building. Irrespective of languages, documents or channels, you’re promised consistency and a unified tone.

4. Speed

A major factor in the financial sector is speed. The rapid pace at which transformations occur in the financial domain demands real-time communications to deliver updated knowledge and information to clients. Partnering with a financial translation agency will ensure fast turnarounds at speed at par with the financial industry’s speed. Additionally, no compromise is made on quality as every translation work is subjected to strenuous double-checking and proofreading to deliver error-free and accurate translations.

5. Knowledge

When it comes to financial translation, domain knowledge is vital to ensure quality. Translations can be as domain-specific as expertise in any other sector. It’s not generic, nor is it a one-fits-all kind of endeavour. Financial translators come with knowledge specific to the financial industry and it reflects in their translation work, and the way they expertly handle complex financial terminology. 

Needless to say, financial documents are replete with industry-specific acronyms and terminology, and software translations have a poor record in dealing with such terms. That’s the reason financial translation is imperative for businesses. And if you’re not trained in the financial industry, there’s no way you can ensure quality. Then there’s a need for linguistic expertise as well, for only linguistically capable translators can communicate complex concepts effectively and in an easily understandable language. Both of which translators at Locate Translate possess in great quantity.

6. Reputation

Financial translation is meant to uplift your brand’s reputation. Opting for financial translation services keeps alive your brand voice; ensures a cross-border-and-culture brand reputation. Financial translation services propel your business’s growth in a foreign market at speed. And in no time you’ll have a dedicated client base ready to interact with your business. Providing the right information in the right language to the right audience at the right time puts your business miles ahead, and makes your business more accessible.

If you’re already established in your home country, and now want to replicate your success story in an international market, you’ll need financial translation services to ensure a consistent brand reputation across marketplaces. In the age of information where dissemination of knowledge has become an integral part of a business’s daily activities, ensuring timely deliverance of content of all sorts in the target audiences’ language is vital for your business’s success. Given the speed, accuracy and confidentiality financial translation brings, it has become indispensable for your business’s survival in today’s competitive financial environments.

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About Shafqat M. Freshman   Content Marketing Head

10 connections, 0 recommendations, 45 honor points.
Joined APSense since, June 18th, 2021, From Enfield, United Kingdom.

Created on Jun 24th 2021 23:44. Viewed 270 times.


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